PBF Energy (NYSE:PBF) Stock Price Down 5.3% – Here’s What Happened

PBF Energy Inc. (NYSE:PBF) shares traded down 5.3% on Monday . The company traded as low as $27.37 and last traded at $27.70. 1,085,446 shares traded hands during trading, a decline of 45% from the average session volume of 1,977,999 shares. The stock had previously closed at $29.26.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PBF shares. TD Cowen lowered shares of PBF Energy from a “hold” rating to a “sell” rating and cut their price objective for the company from $27.00 to $20.00 in a report on Friday, December 20th. JPMorgan Chase & Co. reduced their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $33.00 to $31.00 in a report on Monday, December 16th. The Goldman Sachs Group reduced their target price on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Finally, Wells Fargo & Company cut PBF Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $39.00 to $34.00 in a research note on Monday, December 9th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and an average price target of $32.00.

PBF Energy Price Performance

The company’s fifty day moving average price is $28.84 and its two-hundred day moving average price is $31.73. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -11.45 and a beta of 1.60.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital purchased 70,000 shares of PBF Energy stock in a transaction on Thursday, December 26th. The stock was purchased at an average price of $25.56 per share, with a total value of $1,789,200.00. Following the transaction, the insider now directly owns 28,884,998 shares in the company, valued at $738,300,548.88. The trade was a 0.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders purchased 1,818,500 shares of company stock valued at $54,171,810. Company insiders own 6.20% of the company’s stock.

Institutional Trading of PBF Energy

Institutional investors have recently made changes to their positions in the business. Fortitude Family Office LLC grew its position in PBF Energy by 968.8% in the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP acquired a new position in shares of PBF Energy during the 3rd quarter worth about $48,000. Harbor Capital Advisors Inc. bought a new position in shares of PBF Energy in the 3rd quarter valued at about $59,000. Golden State Wealth Management LLC acquired a new stake in shares of PBF Energy in the fourth quarter valued at about $61,000. Finally, Blue Trust Inc. raised its holdings in PBF Energy by 1,291.1% during the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 2,027 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.